Torrance Real Estate Report - 2nd Qtr '17 vs. 2nd Qtr '16
Whether you're buying or selling real estate in Torrance or surrounding South Bay areas, it's always helpful to be current with local real estate trends. Please come back to my blog for further updates on our local Torrance area real estate market. Torrance home prices went up by 9% in 1st qtr 2017, when compared with the same period last year. Torrance market remains hot, with rising prices and sales only limited by the low inventory. It is a good news for the home sellers, who now enjoy record prices and are able to cash in on the equity in their properties.
Average selling price went up from $647,999 in the first quarter last year to $708,861 this year - 9% price increase y-o-y. Interest rates remained very low, around 4%, helping home buyers and investors. Low inventory of available homes for sale in Torrance CA continued to put pressure on prices, limiting the number of sales. Below I provided the stats and graphs to illustrate the Torrance real estate market, price trends, inventory in detail. As of today, there are 204 homes on the market in Torrance. The lowest home is listed at $239,000 and the highest at $2.6M, average listed price - $757,697. This illustrates the wide range of homes for sale in Torrance, from the ocean view Hollywood Riviera houses to entry level condos. We have a home for every. price range, neighborhood preference or property type.
Torrance Real Estate Market Report Summary
Total of 260 homes sold in Torrance CA in 1st Qtr '17 compared with 257 sold a year ago. Average sale price was $657,378 compared with $634,623 12 months ago, which represents a 4% price increase. The lowest sold price was $184,000; the highest was $2M. Average DOM (days on market) was 34 days compared with 55 days.i
Real Estate Statistics May 11, 2017
|Highest Listing Price:||$2,599,000|
|Lowest Listing Price:||$239,000|